Tiffany & Co loses some of its sparkle
Luxury jewellery retailer Tiffany & Co has reported its biggest dip in net sales since 2009. The company’s net sales dropped 7.4 per cent to $891.3 million for the three months to the end of April.
“As expected, this was a difficult quarter in terms of both sales and earnings growth. We faced numerous challenges, including continued pressure from foreign tourist spending in Europe, the US and Asia, particularly in Hong Kong.”
Frederic Cumenal, chief executive, Tiffany...
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